The latest Rental 100 application is for a site at 1265-1281 Kingsway, next door to another application from December 2019 for a 43-unit project at 1247 Kingsway.

The site is currently zoned C-2 but the rezoning would allow for the development of a 6-storey mixed-use residential building including:

• 43 market rental units;
  • 20 studios, 5 one-bedrooms, 16 two-bedrooms & 2 three-bedrooms;
• 3 retail units at grade;
• a total density of 3.70 FSR;
• a maximum height of 69 ft.; and
• 51 underground parking stalls and 89 bicycle spaces.

The application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

As with the project next door, the architect for this one is Stuart Howard.

The full rezoning application can be viewed here: https://rezoning.vancouver.ca/applications/1265-1281kingsway/index.htm

A 2,344 unit residential development has been proposed by Edgar Development for a 23 acre site they own in Port Moody.

The site, known as ‘Woodland Park‘, is located at Cecil Drive and Angela Drive in the College Park neighbourhood on the Western part of Port Moody. The site is currently improved with older lowrise rental apartment buildings totaling 200 units in 19 buildings scattered across the site.

Edgar acquired the site in 2018 for $97,500,000.

The site is designated Multi-Family Residential in the OCP, which permits various building forms from three, up to a maximum of six storeys in height. The site is located outside the Evergreen Line Sub-areas and therefore has not been specifically designated for development forms higher than six storeys.

The OCP and Rezoning Application contemplates a master planned redevelopment with 18 buildings from 4 to 26-storeys in height, that includes:

• 2,344 total units
• 2,319 condo units;
• 325 below market rental units for BC Housing;
• 10,000 SF of community use space;
• 5,000 SF of retail space;
• a total density of 2.15 FAR;
• neighbourhood park, play area & multi-use path around the perimeter of the property;
• seven phases to be developed over 16 years.

70% of the site is proposed to be retained as environmentally sensitive areas/green space.

The rezoning application is still in the early stages at the Community Planning Advisory Committee. Input from the committee will determine whether the application moves forward on it’s own, or as part of a larger OCP review for the area.

The proposal would join the Flavelle Oceanfront project as by far the two largest development proposals in Port Moody history.

The architect for the Woodland Park project is Acton Ostry.

A 13,700 SF retail and office building on West 4th Avenue near Alma Street has sold for $10,500,000. The building is 2-storeys with office above retail and the site, measuring 11,191 SF is zoned C-2 commercial.

The sale equates to a price per SF of $768 for the building, or $375 per buildable SF based on the zoning. The cap rate equates to 2.8%.

The property had been listed with Macdonald Commercial.